Carlyle Credit Income Fund Announces Private Placement of Convertible Preferred Shares

Core Viewpoint - Carlyle Credit Income Fund has entered into a Purchase Agreement for approximately 17,500 shares of its 7.25% Series E Convertible Preferred Shares, expecting to receive net proceeds of approximately $16.275 million from the sale [1][9]. Group 1: Convertible Preferred Shares Details - The Convertible Preferred Shares have a fixed annual dividend rate of 7.25%, equating to $72.50 per share per year [2]. - The Fund is obligated to redeem all outstanding Convertible Preferred Shares on October 30, 2030, at a price equal to the liquidation preference plus any accumulated but unpaid dividends [3]. - The Fund may redeem the Convertible Preferred Shares at its option starting May 1, 2026, at a price equal to the liquidation preference plus any accumulated but unpaid dividends [4]. Group 2: Conversion Rights - Holders of Convertible Preferred Shares can convert them into common shares starting six months after issuance, based on a conversion price determined by the market price or the Fund's net asset value [5]. Group 3: Offering and Use of Proceeds - The Convertible Preferred Shares will not be listed on any exchange and require the Fund's consent for transfer [6]. - The net proceeds from the offering will be used to redeem outstanding 8.75% Series A Preferred Shares due 2028 and for general working capital purposes [9]. - The redemption of the Series A Preferred Shares is scheduled for November 3, 2025, at a price of $25 per share plus any accumulated unpaid dividends [10]. Group 4: Fund Overview - Carlyle Credit Income Fund is an externally managed closed-end fund focused on investing in equity and junior debt tranches of collateralized loan obligations, primarily backed by U.S. senior secured loans [13].